Azernews.Az

By Nigar Abbasova

The authorized capital of Azerbaijan Caspian Shipping CJSC will be increased by almost 15 percent – from 383.42 million Azerbaijani manats ($240.91) to 440.05 million manats ($276.50). Thus, total volume of additional issue of shares will be 56.63 million manats ($35.58).

The capital was increased based on the decision of the country’s Cabinet of Ministers, which made amendments to the decision of 24 January 2014 on the approval of the charter and structure of Azerbaijan Caspian Shipping Company.

All shares are state-owned. Financial statements and the consolidated financial reports of the company are prepared in accordance with International Financial Reporting Standards.

The company owns the offshore support, merchant fleets and two shipyards. The merchant fleet consists of 98 vessels being 34 tankers, 13 ferries, 14 universal dry-cargo, 2 Ro-Ro type ships as well as 35 different auxiliary ships. Offshore support fleet is comprised of 188 vessels of which 21 crane vessels, 22 supply and tug vessels, 29 passenger ships, 2 pipe lay barges, 7 firefighting vessels, 5 geological survey vessels, 11 diving support vessels, and 84 other support vessels.

The company provides marine transportation of goods and passengers in the Caspian Sea as well as provides offshore support services for oil and gas operations.

--

Nigar Abbasova is AzerNews’ staff journalist, follow her on Twitter: @nigyar_abbasova

Follow us on Twitter @AzerNewsAz